As has been repeatedly been reported within our news features solar PV uptake rates have continually risen in recent years and this trend is set to continue given the release of figures for the UK industry. While the commercial solar sector has been through a recent turbulent times across the last few months it is the domestic solar power market that is growing from strength to strength within the UK.
How Has The UK Solar Industry Performed Recently
What has proved one of the most significant findings is that over the last few years the cost of solar panel installations has fallen by over 60% this has represented a huge enticement to potential customers as it is the cost that has continually proved the determining factor as to why not have solar installed. What this has represented to the customer in a monetary figure is ROI of the installation actually being improved. now depending on the size of the system in some cases this has shown an increase of over a 50% increase in their return compared to having a system installed 4-5 years earlier.
Why Solar Continues To Improve In Price
One of the biggest factors that has enable consumer to increase their long term solar powerpotential is the reduction in the F.I.T. (Feed in Tariff). While on the surface this may seem like an unusual what the drastic cutting of the F.I.T. sachem forced suppliers within the UK to do was to address this by looking to keep the installation and process as efficient as possible and as a byproduct it was the bottom line of the installation that subsequently had to reflect the consumer behavior which inevitably pointed to lack of consumer interested.
Cheaper Solar Panel System
As such more competitive pricing has equated to increase demand, on the other hand what wasn’t expected was the rate at which manufacturers have been consistently able to provide systems for less due to continuing system development becoming less expensive and also due to ever increasing demand. All of this had occurred without any sacrifice to renewable generation in fact quite the opposite as system are now more efficient than ever before.
The Perfect Balance
All of this has pointed to the perfect economies of scale for the consumer as systems have decreased in price while manufacturer and suppliers are installing more systems than ever before, as such the supply and demand scale is becoming ever more efficient within the UK. While at first the drastic changing of the F.I.T. scheme creating substantial problems for the industry as their was a sustained period of conjecture between suppliers and the government due to the inevitable consequences. However it is the domestic solar PV industry which has gone from strength to strength within this period.
What Other Finding The Solar Report Discover
One of the most important other areas that the report covered was that important link between the F.I.T. and the continual interested from the general public for solar panels. As such any subsequent change in consumer uptake is heavily linked to how the government chops and changes the rate of return to the consumer. While this is expected, it does appear the government should pay careful considerations to these findings given their constant changes to the scheme. While other key points highlighted by the report is that now more than ever consumer view solar panels as desirable product than ever before.
**Green Business Report
Some previous related articles of interest:
Why changes to the Green Climate Fund are needed
How solar efficiency is continuing to improve
The lack of solar panel funding knowledge by UK residents